SEFE
Former Gazprom unit says Russian sanctions disrupted LNG supply to GAIL
GAIL, an Indian gas utility, faced supply disruption due to sanctions imposed by Moscow on SEFE, a former unit of Russian energy giant Gazprom. GAIL filed an arbitration claim seeking USD 1.8 billion from SEFE for non-supply of LNG cargoes. SEFE, now state-owned by Germany, denied owing more than contractually limited amounts.
GAIL seeks $1.8 bn from former Gazprom unit
State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for "non-supply of LNG cargoes under long-term contract."
LNG deal: GAIL seeks damages from Gazprom
GAIL India is seeking compensation from Gazprom Marketing and Trading Singapore after the latter reneged on a commitment to supply fully contracted liquified natural gas (LNG) last year. GAIL Chairman SK Gupta has said the company has filed for arbitration in London, stating, “We have nominated our arbitrator. We are pressing for specific performance (of the contract) and to claim damages”. Though supplies have resumed with GAIL receiving the contracted quantity, it has decided to pursue legal action.
Gail initiates legal proceedings against Gazprom for non-supply of LNG; files for arbitration in London
GAIL had in 2012 signed a 20-year deal with Gazprom Marketing and Singapore (GMTS) to buy 2.85 million tonnes per annum of LNG. Supplies started in 2018 and the full volume was to reach in 2023.
Former Russian unit resumes regular LNG supplies to India; 6 US cos offer stake to GAIL
A former unit of Russian energy giant Gazprom has resumed supplying LNG to Indian state gas utility GAIL a year after it halted supplies due to the Ukraine war, GAIL chairman Sandeep Kumar Gupta said Thursday.
Lower gas prices to push up India's FY24 gas demand by 7%: GAIL Chair
Indian gas utility GAIL (India) Ltd sees local gas demand growing by 6%-7% in the fiscal year to March, driven by lower prices and the resumption of supply under a deal with the former unit of Russia's Gazprom, its chairman said on Thursday.
- Go To Page 1
Former Gazprom unit to resume GAIL LNG supply: Union minister Rameswar Teli
Sefe Marketing and Trading Singapore Pte Ltd (SMTS), erstwhile Gazprom Marketing and Trading Singapore Pte Ltd, will "supply two cargoes in March 2023 and two in April 2023," Minister of State for Petroleum and Natural Gas Teli said in a written reply to a question in Lok Sabha.
We were expecting tariff to be Rs 5-6 more than what PNGRB approved, will go back for review: Rakesh Kumar Jain, GAIL
The Petroleum and Natural Gas Regulatory Board (PNGRB) has issued higher tariffs for GAIL's nine physically interconnected pipelines at Rs 58.61, up from Rs 46 per MMBtu for similar pipelines, which will result in an increase of around Rs 1,600 crore in revenue. However, GAIL was expecting a tariff Rs 5-6 higher than the approved rates, as PNGRB has considered a substantially lower fuel gas price for internal consumption.
GAIL to get LNG shipments from Germany's Sefe after nearly a year
GAIL agreed to a 20-year deal with Gazprom Marketing and Singapore (GMTS) in 2012 for annual purchases of an average of 2.5 million tonnes of LNG. At the time, GMTS was a unit of Gazprom Germania, now called Sefe, but the Russian parent gave up ownership of Sefe after Western sanctions were imposed on Moscow over its invasion of Ukraine last year.
GAIL Q3 Results: Profit slumps 93% YoY to Rs 246 crore on supply hit; stock cracks 4%
GAIL's revenue from operations jumped more than 37% to Rs 35,380 crore on price hikes to customers.
How governments are trying to ease impact of inflation
India is set to offer 2 million to 3 million tonnes of wheat to bulk consumers such as flour millers and biscuit makers as part of efforts to cool record high prices. In September it restricted exports of rice to boost supply and calm local prices.
Germany, India in escalating tussle over canceled LNG supply
Gas supplies from Germany’s Securing Energy for Europe GmbH to GAIL India Ltd. have been disrupted since May after Moscow’s sanctions on the group made it impossible to source cargoes from Russia.
India, Germany tussle over cancelled LNG supply escalates
Diplomats have been called in to try to resolve a disagreement over a cut in supplies of liquefied natural gas to India by a German-state-backed company, according to people familiar with the matter who asked not to be named because the matter is private. India is also seeking a solution with Russia to fill the supply gap.
Load More
